Sluggish sales during Eid festivities
Traders pin hopes on tourism, apple season revival
Srinagar: The festive spirit that typically transforms markets across Kashmir ahead of Eid-ul-Fitr has been significantly muted this year, with traders reporting one of the weakest business seasons in recent memory.
From Srinagar to south Kashmir districts, markets that usually remain abuzz with shoppers till late evening are witnessing thin footfall and subdued buying activity. Traders say that despite expectations of a seasonal boost, sales have remained disappointingly low, with most customers limiting their purchases to essential commodities only.
“We were hoping that Eid would revive business after months of slump, but that hasn’t happened,” said Bilal Ahmad, a member of a traders’ association in Pulwama. “Sales have dropped to a level where sustaining business itself is becoming a challenge.”
According to traders, the downturn in market activity dates back to last autumn and has continued unabated. Several factors are being cited for the slowdown, including inflationary pressures, reduced purchasing power, and broader economic uncertainties.
Many traders also linked the slump to global developments, particularly rising crude oil prices and ongoing geopolitical tensions, which they say have indirectly affected local markets.
Abdul Rehman a prominent trader from Anantnag, said that last year’s weak tourism season dealt a major blow to the Valley’s economy. “After the incident in Pahalgam, tourist inflow declined, which impacted the earnings of thousands of people connected with the tourism sector. When incomes fall, spending in markets automatically reduces,” he said.
Tourism, considered a backbone of Kashmir’s economy, has a cascading impact on trade. Hoteliers, transporters, guides, and others associated with the sector contribute significantly to market circulation. A dip in tourist arrivals, traders said, has directly translated into lower retail sales.
Compounding the situation further, the horticulture sector—particularly apple growers—also faced a difficult year. Traders dealing in fruits said that low demand and logistical challenges, including highway disruptions, resulted in poor returns last season.
“The apple economy supports a large portion of Kashmir’s population. When growers don’t earn well, its impact is felt across all sectors, including retail,” said a fruit trader from Shopian.
Inflation has emerged as another key concern, with the rising cost of essential goods forcing households to cut back on discretionary spending. Traders noted that even during the peak festive period, people are prioritizing necessities over traditional Eid shopping such as clothing, footwear, and gifts.
“Customers are only buying what they need to survive. Eid shopping has taken a backseat,” said Abdul Rashid, a grocery shop owner in Baramulla. “For many families, managing daily expenses itself has become difficult.”
Interestingly, traders also observed a shift in spending patterns among those with financial capacity. Instead of spending in retail markets, many are channeling their investments into sectors like high-density horticulture, which they view as more secure and profitable in the long run.
“People with money are investing in orchards rather than spending in markets. That is another reason why retail businesses are suffering,” said a trader from Kupwara.
Business associations have expressed concern over the prolonged economic slowdown and have called on authorities to take measures to revive market activity. They stressed the need for boosting tourism, ensuring better returns for horticulture produce, and addressing inflation to restore consumer confidence.
Despite the prevailing gloom, traders are still hoping for a last-minute surge in shopping in the final days before Eid. However, the overall sentiment suggests that this year’s festival may pass without the usual economic vibrancy that has long been associated with Eid celebrations in Kashmir.
Looking ahead, many in the business community are pinning their hopes on an improved tourism season and a better-performing apple harvest this year to help the Valley’s economy regain momentum.
